Empower Grows Earnings 23% to Record High

About this update from Empower India Limited

Base earnings of $314m for first quarter 2026More than 20 million now invest with EmpowerGREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--May 07, 2026--Empower announced today strong momentum across its business in the first quarter of 2026, highlighted by the company surpassing 20 million investors served.The retirement services and wealth management provider saw continued growth in sales and net flows during the quarter.Empower announced it has achieved base earnings of $314 million for the first quarter of 2026, up 23% from the same period in 2025.Empower released results as part of a broader quarterly announcement by its parent company, Great-West Lifeco TSX:GWO. For more information, please see the company's quarterly results on its website."Reaching the milestone of 20 million investors is a powerful reflection of the trust individuals and employers place in us every day," said Edmund F. Murphy III, president and CEO of Empower. "We are seeing meaningful momentum across our business--from plan sales to pooled employer plans to wealth management--and we remain focused on delivering the solutions, insights, and service our customers need to achieve financial confidence."This milestone is about more than scale--it's about responsibility," Murphy added. "Earning the trust of 20 million people means showing up every day with the right tools, the right advice, and a relentless focus on helping them build better financial futures. It underscores the role we play in people's lives and the importance of continuing to innovate and invest on their behalf."Empower's Workplace Solutions business generated $26 billion in gross plan sales, supported by strong demand across plan types, including continued adoption of pooled employer plans. The company added more than 335,000 new participants in the first quarter, reflecting strong employer interest in scalable retirement solutions. The unit continued to see elevated request-for-proposal activity during the quarter, with demand spanning corporate, government, Taft-Hartley, and not-for-profit plans. Funded sales were driven by both new client wins and plan conversions, reinforcing the company's competitive position across market segments.In addition, Empower Personal Wealth(TM), the firm's wealth management unit, realized a 65% year-over-year increase in earnings, driven by strong net flows and demand for financial advice....

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